Cattle Current Daily, Jan. 3, 2022

Cattle Current Daily, Jan. 3, 2022

Negotiated cash fed cattle prices gained last week amid holiday-lightened trade. For the week, based on USDA reports available through Thursday, live prices were $2 higher in Nebraska at $140/cwt., $3 higher in the Texas Panhandle at $138 and $5 higher in the western Corn Belt at $140. Dressed prices of $220-$222 were $3-$4 higher in Nebraska and $3-$5 higher in the western Corn Belt.

Live Cattle futures traded sideways amid light trade on Friday. They closed narrowly mixed, from an average of 16¢ lower in the front three contracts to an average of 33¢ higher.

Feeder Cattle futures were traded lightly, too, but had the benefit of further erosion in front-month Corn futures. They closed an average of 81¢ higher (5¢ higher at the back to 95¢ higher toward the front), except for 35¢ lower in Sep.

Stronger cash prices and stabilizing wholesale beef prices enabled Cattle futures to gain from Monday through Friday.

Live Cattle futures closed an average of $1.06 higher (42¢ to $1.60 higher). Feeder Cattle futures closed an average of $4.15 higher during the same period ($2.37 higher at the back to $6.67 higher toward the front). The CME Feeder Cattle Index closed $5.99 higher week to week on Thursday at $165.21/cwt.

Choice boxed beef cutout value was 78¢ higher on Thursday at $265.26, compared to Monday. Select was $3.05 higher at $258.23.

Grain futures lost ground throughout the week, due in part to rains in South America.

Corn futures closed an average of 17¢ lower on Friday through the front six contracts, compared to Monday, except for fractionally lower in spot Mar. During the same period, Soybean futures closed an average of 28¢ lower through the front six contracts,

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Major U.S. financial indices eased lower again Friday as investors closed out positions for the year, amid lighter holiday trade.

The Dow Jones Industrial Average closed 59 points lower. The S&P 500 closed 12 points lower. The NASDAQ was down 96 points.

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Restaurant customers can expect to see health taking center stage on restaurant menus in 2022, according to the National Restaurant Association’s (NRA) recent annual What’s Hot Culinary Forecast. It details topics, trends, and products expected to drive restaurant menus in the coming year across a variety of categories.

For instance, after demand for comfort food surged during the height of the pandemic, consumers are refocusing on better-for-you options, with foods that are believed to have immunity-boosting qualities and plant-based sandwiches making up three of the Top 10 Trends for 2022. The report adds plant-based proteins are growing in popularity on menus and less expensive cuts of protein, such as thighs instead of wings, will have a greater presence in the year to come.

Moreover, according to NRA, sustainability will continue to influence menus and how restaurants make decisions across the board. From reusable and recyclable packaging to zero-waste options, restaurants are continuing to prioritize sustainable initiatives. As consumers continue to utilize off-premises options in all dayparts, restaurants are looking to translate their dine-in experience outside the four walls of the restaurant with thoughtful packaging that maintains food quality, retains temperature, and is tamper-proof.

“In addition to a return to health-focused menu offerings and more eco-friendly, improved off-premises packaging, all of which rated high in the top trends, we’re expecting operators to look across their menus for transformative opportunities,” said Hudson Riehle, senior vice president of Research for the Association. “Look for trends that fuse the traditional meal daypart items with other dayparts and an increasing popularity of snacking and its allied items. Also, with the popularity of cocktails-to-go during the pandemic, restaurants will look to expand both alcoholic and non-alcoholic craft beverage options.”

2022-01-02T17:51:40-06:00

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